$100m foreign-capital fund signed in WND

Signing ceremony between Wuxi National Hi-tech District and Venturous Group is held online on Jan 8. [Photo/WeChat account: xinwu_wx]

Wuxi signed an agreement to introduce a new foreign-capital fund sponsored by Venturous Group in Wuxi National Hi-tech District (WND) on Jan 8.

In light of the COVID-19 epidemic, the signing ceremony was held online to allow directors from Venturous's overseas branch to take part in it.

The first round of Venturous's fund to be used to invest in Wuxi-based enterprises totaled $100 million. The fund will mainly focus on related industries of smart city construction, including urban technology, real estate technology, energy technology, financial technology, the industrial internet of things, artificial intelligence, big data, and the internet of vehicles.

WND Party Secretary Jiang Min attended the signing ceremony and said that WND is working to develop into a technological innovation hub. Jiang said the fund can help the development of more high-quality projects in the district.

Venturous Group is a strategic investment institution, focusing on urban technology, energy technology, industrial internet, artificial intelligence, the internet of vehicles, financial technology, and smart supply chains.